Charitable Giving After Tax Reform
Charitable giving may help some filers reduce tax liability, particularly for high-income earners or those who have itemize deductions in excess of the new
Doreen Merz, CPA, Senior Tax Manager July 16, 2018
Charitable giving may help some filers reduce tax liability, particularly for high-income earners or those who have itemize deductions in excess of the new
As the new tax bill worked its way through Congress last fall, nonprofits across the country raised their voices high to share concerns about its
Raffles: Follow the rules of the game If your organization anticipates raising big amounts with a raffle at your next fundraising event, you might want
For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others
Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to
Nonprofits typically work hard to make the world a better place and their success depends greatly on financial health and integrity. That is why many nonprofits
In a much-anticipated ruling that confounded the expectations of many court watchers, the U.S. Supreme Court has given state and local governments the green light
Starting early on your 2018 tax planning is especially critical this year, as tax reform has substantially changed the tax environment. Tax planning helps determine
Tax reform has led to confusion over some of the changes to longstanding deductions, including the deduction for interest on home equity loans. The IRS
Recharacterization of IRA contributions An individual who makes a contribution to a regular or Roth IRA can recharacterize it as made to the other type of
The sweeping changes of recent tax reform may impact the choice of how business taxpayers maintain their financials, specifically regarding the cash vs accrual methods
In a like-kind exchange, a taxpayer doesn’t recognize gain or loss on an exchange of like-kind properties if both the relinquished property and the replacement
The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other
Many nonprofits are poised to grow, but recognize risks More than three-quarters of nonprofits are at least “somewhat likely” to pursue growth through expanded fundraising
Most nonprofits are understandably laser-focused on their mission, and other, seemingly less-critical matters may fall between the cracks. But if the finance function does not
When President Trump signed the massive federal income tax overhaul into law on December 22, 2017, much was made of nonprofits’ understandable concern that the
Nonprofits nationwide are increasingly considering shared workspace arrangements to lower rising facility costs. These arrangements are particularly appealing in areas where nonprofits are being priced
Under the pre-Act rules, you could deduct interest on up to a total of $1 million of mortgage debt used to acquire your principal residence
Before the Tax Cuts and Jobs Act, a second tax system called the alternative minimum tax (AMT) applied to both corporate and noncorporate taxpayers. The
The Tax Cuts and Jobs Act (TCJA) should provide a substantial tax benefit to individuals with “qualified business income” from a partnership, S corporation, LLC
The Tax Cuts and Jobs Act makes changes to the general business credit by adding a new component credit for paid family and medical leave,